Question: Consider a town in which there is a single museum. A visit to the museum yields the utility of BN} : 1: p (IN to




Consider a town in which there is a single museum. A visit to the museum yields the utility of BN} : 1: p (IN to each individual, where 'tJ' denotes the agent's satisfaction from the exhibit, p is the admission fee, and [IN is the level of dissatisfaction each visitor experiences when the museum is attended by N individuals [including themselves}. lfthe agent decides against going to the museum, they receive [1. You may assume throughout that the number ofvisitors N can be any real number (rather than an integer). Moreover, each individuals visits the museum at most once. (ii) Show that the number of visitors is Ne = U - P
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